Pull one hair, and the whole body reacts—a pullback in Bitcoin sends shockwaves through the entire market. Despite repeated rebounds fueling expectations of Bitcoin reaching $100,000, reality has proven otherwise. This week, the prolonged high-level fluctuations have shifted into pullback mode. As mentioned last night, the first key level to watch is $89,000, marking a significant 10,000-point drop.
In the coming days, expect to hear about liquidations of long positions as the market adjusts. Fighting the trend in hopes of quick profits is risky. After weeks of bullish sentiment, it’s time to adapt and align with the current market dynamics. Remember, a 10,000-point correction in a bull market is entirely normal.
The daily chart now shows a strong bearish close, with moving averages turning downward and diverging—a clear sign of significant weakness. Early sessions saw Bitcoin dip to the $92,666 range before rebounding slightly. Whether the market rises or falls sharply, avoid impulsive trades and focus on well-timed entries during rebounds.
Trade Ideas:
Bitcoin: Short in the $94,300–$94,800 range, targeting $90,000.
Ethereum: Short in the $3,450–$3,480 range, targeting $3,300.
Stay patient and trade strategically in this volatile environment.
